GMP Chairman Retires

05/17/02 12:00AM

(Host) There's a changing of the guard at Vermont's second largest electric utility. Former Governor Thomas Salmon has stepped down as chairman of the board of Green Mountain Power.

Salmon was on the GMP board since 1978 and was its chairman since 1983. He presided over the company during its brush with bankruptcy several years ago. Salmon says the utility is much healthier these days:

(Salmon) "Doctor Samuel Johnson had a great saying... 'the threat of hanging concentrates the mind.' And our mind  both on our board and seniors managers  got concentrated as we looked at the stark reality of possible bankruptcy. And we found a way to survive. And I'm very grateful I was around. Not as CEO, but as a helper as chair of the board. This is a great theme to go out on."

(Host) Salmon gave his farewell address at the GMP annual meeting on Thursday. After the meeting, the board elected Burlington businessman Nordahl Brue as chairman.